7 Common Banking Scams — and How to Avoid Them

Financial scams continue to evolve but knowing what to look for can help you stay one step ahead. Understanding these common banking scams and following a few simple precautions can help protect your accounts and personal information. And if something doesn’t seem right, FirstBank is here to help you navigate concerns and bank with confidence.

Scam #1: Phishing Emails
Phishing emails often look like legitimate messages from your bank, a retailer, or a government agency. They typically create urgency by warning about suspicious activity or account restrictions.

How to Avoid It
Never click links in unexpected emails
Visit your bank’s website directly
Verify sender email addresses carefully

Learn more about secure banking and fraud prevention in our Security Resources Center

Scam #2: Text Message Fraud (Smishing)
Scammers send text messages claiming your account has been locked or compromised.

How to Avoid It
Ignore unexpected links
Contact your bank directly using a trusted phone number

For additional tips on protecting your accounts online, take a look at our Protection Safeguards Resources

Scam #3: Phone Scams (Vishing)
Fraudsters may impersonate bank representatives and request account information or authentication codes.

How to Avoid It
Hang up and call your bank directly
Never share one-time passcodes

Scam #4: Fake Check Scams
Victims receive counterfeit checks and are instructed to send a portion of the funds elsewhere.

How to Avoid It
Be skeptical of unexpected payments
Verify checks before sending money

If you’re unsure about a suspicious transaction, contact our Customer Support Team or visit your local branch before taking action.

Scam #5: Account Takeover Fraud
Criminals use stolen credentials to access online banking accounts.

How to Avoid It
Use unique passwords
Enable multi-factor authentication (MFA)

Scam #6: Zelle® and Payment App Scams
Scammers may pretend to be customer support representatives or buyers and sellers.

How to Avoid It
Only send money to people you know and trust
Verify requests before transferring funds

Scam #7: Impersonation Scams
Fraudsters pretend to be banks, government agencies, or utility companies.

How to Avoid It
Question urgent requests.
Verify independently before taking action.

Final Takeaway
The most effective way to avoid financial fraud is to slow down, verify requests, and use trusted communication channels. For more guidance on protecting your finances, explore our Financial Security & Fraud Education Center.